ABIT AG

euro adhoc: ABIT AG
Mergers - Acquisitions - Takeovers
Ratio of exchange is set forth for merging ABIT AG and phinware AG; extraordinary shareholders┬ĺ meeting on 12 December 2003 (E)

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Meerbusch, 29 October 2003. ABIT AG and phinware AG have drafted an agreement on phinware AG merging with ABIT AG and have set forth the ratio of exchange as follows:

For the total of 238,792 shares of phinware AG, 2,972,536 bearer shares of ABIT AG are to be issued to phinware AG┬ĺs sole shareholder GFKL Financial Services AG of Essen whereby each individual share represents a prorated amount of EUR 1.00 of the share capital of ABIT AG. To this end ABIT AG plans a capital increase of EUR 2,972,536.00 by issuing 2,972,536 bearer shares, each in a prorated amount of EUR 1.00 of the share capital of ABIT AG, thereby raising its share capital from EUR 5,415,548.00 to EUR 8,388,084.00.

In today┬ĺs meeting, the supervisory board of ABIT AG has approved the draft agreement.

The ABIT AG shareholders┬ĺ meeting, which is to decide on the merger and the capital increase it requires, is to be held in D├╝sseldorf at 10 AM on 12 December 2003. The shareholders┬ĺ meeting of phinware AG is scheduled for 11 December 2003.

end of announcement            euro adhoc 29.10.2003
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Further inquiry note: Herr Sven Kamerar Head of Corporate Communications Phone: +49 (0)2150 9153 898 E-Mail: investor@abit.de

Branche: Software
ISIN:      DE0005122501
WKN:        512250
Index:    CDAX, Prime All Share, Prime Standard, Technologie All Share
B├Ârsen:  Frankfurter Wertpapierb├Ârse / regulated dealing
              Nieders├Ąchsische B├Ârse zu Hannover / free trade
              Berliner Wertpapierb├Ârse / free trade
              Bayerische B├Ârse / free trade
              Hamburger Wertpapierb├Ârse / free trade
              B├Ârse D├╝sseldorf / free trade
              Baden-W├╝rttembergische Wertpapierb├Ârse / free trade



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